Analyst: Tokenized Gold Gains Momentum Against the Trend, Binance Records Over $325 Million in 7-Day Trading Volume

Odaily: Crypto analyst Darkfost posted on X that amid a weakening crypto market, trading activity in tokenized gold products has been rising against the trend. Cumulative trading volume for gold-backed products on Binance has exceeded $8 billion since launch; excluding the initial volume spike at listing, the past 7-day trading volume hit a new high of over $325 million, with single-day volume reaching $78 million on November 5.

According to CoinGecko data, the total market capitalization of tokenized assets is currently around $50 billion, of which commodity-type assets are worth nearly $6 billion, with gold accounting for a major share. However, Darkfost noted that gold prices have retraced over 30% since the beginning of the year and are currently stabilizing around $4,000 per ounce.